On Friday, sell-offs in Tier One banking equities led to N37 billion being reported by investors at the Nigerian Stock Exchange in the local equity market.

This is happening when the NGX’s market capitalisation began at N56.615 trillion and closed at N56.578 trillion, down N37 billion or 0.07 percent.

Additionally, the All-Share Index (ASI) fell by 65 points, or 0.07 percent, to close the day at 98,458.68 points as opposed to 98,523.56 points.

As a result, the return for the year has dropped by 31.68%.

The market was pulled down by sell pressure in a number of companies, including Zenith Bank, FBN Holdings, FCMB Group, International Breweries, and Unilever.

On the trade floor, there were 21 winners and 26 losers as the market breadth closed in the negative.

In the losers’ table, Northern Nigeria Flour Mills trailed by 9.50 percent to close at N31.90 per share, while Caverton led by 9.76 percent to close at N2.68.

International Breweries lost 6.96 percent to settle at N4.01 per share, UPL down 8.85 percent to close at N2.37, and McNichols fell 8.57 percent to close at N1.60.

Conversely, Beta Glas topped the gainers’ table by 10%, closing at N48.96, while Meyer Plc trailed behind by 9.93%, closing at N7.75 per share.

Ellah Lakes Plc gained 9.82 percent to conclude at N4.92 a share, while Deep Capital Management and Trust Plc advanced by 9.90 percent to close at N1.11.

In addition, Abbey Mortgage Bank Plc closed at N2.50 per share, up 9.65%.

Subsequent examination of the market activity revealed that trade turnover settled at a higher rate than it did in the previous session, with a 0.72 percent increase in transaction value.

Compared to 344.36 million shares valued at N6.61 billion traded in 9,005 deals, a total of 797.21 million shares priced at N6.66 billion were swapped in 7,764 deals.

As for the activity chart, Japaul Gold topped it both in terms of volume and value, holding 591.19 million shares valued at N1.47 billion.